Beese Fulmer Investment Management Inc. Increases Stake in Pepsico, Inc. (PEP)

Beese Fulmer Investment Management Inc. raised its stake in Pepsico, Inc. (NYSE:PEP) by 1.3% during the third quarter, according to its most recent disclosure with the SEC. The firm owned 91,471 shares of the company’s stock after buying an additional 1,183 shares during the period. Pepsico accounts for 2.7% of Beese Fulmer Investment Management Inc.’s portfolio, making the stock its 3rd largest position. Beese Fulmer Investment Management Inc.’s holdings in Pepsico were worth $9,949,000 at the end of the most recent reporting period.

Other large investors have also bought and sold shares of the company. Kentucky Retirement Systems purchased a new stake in shares of Pepsico during the second quarter worth $13,013,000. Stonebridge Capital Management Inc. boosted its stake in shares of Pepsico by 0.3% in the third quarter. Stonebridge Capital Management Inc. now owns 77,741 shares of the company’s stock worth $8,456,000 after buying an additional 201 shares during the last quarter. Raymond James Trust N.A. boosted its stake in shares of Pepsico by 4.7% in the third quarter. Raymond James Trust N.A. now owns 101,338 shares of the company’s stock worth $11,023,000 after buying an additional 4,554 shares during the last quarter. Fundsmith LLP boosted its stake in shares of Pepsico by 13.6% in the second quarter. Fundsmith LLP now owns 3,540,086 shares of the company’s stock worth $375,037,000 after buying an additional 424,100 shares during the last quarter. Finally, Beach Investment Counsel Inc. PA boosted its stake in shares of Pepsico by 55.9% in the second quarter. Beach Investment Counsel Inc. PA now owns 126,505 shares of the company’s stock worth $13,402,000 after buying an additional 45,367 shares during the last quarter. 69.04% of the stock is owned by institutional investors.

Institutional Ownership by Quarter for Pepsico (NYSE:PEP)

Pepsico, Inc. (NYSE:PEP) traded down 0.05% during mid-day trading on Wednesday, hitting $101.92. The stock had a trading volume of 871,369 shares. Pepsico, Inc. has a 12-month low of $93.25 and a 12-month high of $110.94. The firm has a market cap of $146.17 billion, a PE ratio of 22.36 and a beta of 0.51. The company has a 50-day moving average of $103.56 and a 200-day moving average of $106.07.

The company also recently announced a quarterly dividend, which was paid on Friday, January 6th. Investors of record on Friday, December 2nd were given a $0.7525 dividend. This represents a $3.01 annualized dividend and a dividend yield of 2.95%. The ex-dividend date of this dividend was Wednesday, November 30th. Pepsico’s dividend payout ratio (DPR) is currently 66.01%.

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PEP has been the subject of a number of research reports. Bank of America Corporation reaffirmed a “buy” rating and issued a $120.00 price objective on shares of Pepsico in a research note on Friday, September 30th. Credit Suisse Group reissued a “buy” rating and set a $122.00 target price on shares of Pepsico in a research note on Friday, September 30th. Jefferies Group reissued a “buy” rating and set a $122.00 target price (down from $124.00) on shares of Pepsico in a research note on Friday, September 30th. Deutsche Bank AG reissued a “buy” rating and set a $120.00 target price on shares of Pepsico in a research note on Monday, October 3rd. Finally, Zacks Investment Research raised Pepsico from a “hold” rating to a “buy” rating and set a $116.00 target price for the company in a research note on Monday, November 14th. Ten investment analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company’s stock. The company has a consensus rating of “Buy” and an average target price of $113.43.

Pepsico Company Profile

PepsiCo, Inc is a food and beverage company. The Company, through its operations, bottlers, contract manufacturers and other third parties, is engaged in making, marketing, distributing and selling a range of beverages, foods and snacks, serving in over 200 countries and territories. The Company operates through six segments, namely, Frito-Lay North America (FLNA); Quaker Foods North America (QFNA); North America Beverages (NAB); Latin America, which includes its beverage, food and snack businesses in Latin America; Europe Sub-Saharan Africa (ESSA), which includes its beverage, food and snack businesses in Europe and Sub-Saharan Africa, and Asia, Middle East and North Africa (AMENA), which includes its beverage, food and snack businesses in Asia, Middle East and North Africa.

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